Odisha Sun Times Business Bureau
Bhubaneswar, July 28:
The Australian Government has given environmental approval to Adani Mining’s $16.5 billion Carmichael Coal Mine and Rail Infrastructure project in Queensland,a release from the Australian High Commission said today.
Australia’s High Commissioner to India, Patrick Suckling, said the Government’s decision to give a green light to the signature project shows that Australia is open for business, and welcomes foreign investment.
“This outstanding project will drive economic growth and create more than 6,000 jobs in Australia. It will also boost India’s development by providing electricity to an estimated 100 million Indians,” Suckling said.
“Australia’s resources sector has enormous potential and our Government is pursuing an ambitious trade and investment agenda to make sure we secure projects which will boost prosperity and create wealth for future generations,” he added.
He said “The Australian Government has created a very competitive investment environment by streamlining approval processes, cutting unnecessary regulations, and committing to substantial new infrastructure investments. This is mirrored by the pro-active approach taken by the Queensland Government, as Australian state governments are also playing a key role in creating a welcoming investment environment. There are few places in the world where it’s easier to do business.”
Australia wants to work with major companies like Adani to ensure that we continue to attract investment and unlock our economic potential, the release said.
The Carmichael project involves open cut and underground coal mining in the north Galilee Basin which will produce 60 million tonnes of thermal coal per year as well as 189 kilometres of new rail infrastructure.
The project has an estimated 60-year resource value of $300 billion and at full production is projected to add $2.97 billion to Queensland economy each year.